Selling through online platforms has become one of the trends today and it will continue and seize to exist until there will be another better way of selling but as of now, this is the greatest thing you can ever imagine. With just a few clicks and ticks and you are done. There are a lot of online shops or what they call as e-commerce business where they are licensed to conduct the business through online. Amazon is one of the top e-commerce shops in the world as of today. And it has been gaining a lot of sales compared to the brick and mortar stores. Amazon is an online shop which produces a wide variety of products and services. It is considered as one of the top online selling stores in the world today.
You can find anything on Amazon, be it the most needed product for the most unnecessary product you can easily find. Amazon does not only sell their products but as well supporting other small businesses by letting them sell their products as well. Over the past years of Amazon reign, there have been many jobs offered to people who are lucky enough to have the stable career in the said company.
Amazon is a company made by builders and sellers and inventors. If you belong to one of those mentioned, then maybe you got the right skills for Amazon. This company is not a product-based company that does not have a high-quality standard but this company maintains a name that their products will sustain and last for years.
In online selling, a major thing for a seller to do is to launch a product. In that way, you can sell your products to interested customers but how to do you exactly launch a product? Here are the steps to do product launching:
- Have knowledge of what products to sell. The first thing you need to consider is to have a product that could sell out. A product that everyone needs. But you need to consider some points when choosing a product: price, shipping, the supplier, seasonality, the demand and the competition. If you want to know where to find products which are highly in demand, you can find a list in Amazon Best Sellers but you need to be mindful that even though it has the richest source of information, you can find even more competition there. But do not worry, there are other areas where you can find products that could sell out in today’s time.
- Supply chain management. In order for you to have a proper and organized chain of supply. You need to have a plan and strategy because if you do not have one then there is a decrease possibility of growth. Most of the e-commerce business is that whenever there is a one shot at ceiling growth, it will be very hard to continuously grow and maintain it. That is why Guided Imports was launched years ago and has since been maintaining its growth as companies have realized that there is another option that makes more sense for their business.
- Advertise your products. Amazon does not implement anymore the product discount in exchange for advertising. But the advertisers are now finding another way to advertise a newly launched product. There is a speculation to implement the Sponsored Products Sales Velocity Strategy, in this way, it involves repricing and also there is an aggressive bidding on certain keywords for improved organic ranking, and ultimately increase the conversions. But an advertising agency would also analyze how much they need to spend, how high the bids need to be, and which keywords they would want to bid on to know what type of organic placement we can achieve for the new product. David Cooley, Manager, Marketplace Channels Operations at CPC Strategy said. “It’s not simply, let’s cut the price in half and double the bid, There’s actually a lot of analysis that goes into it. When launching a product, it’s also important to utilize your email groups and/ or Facebook groups (especially if you have a decent Facebook following) to drive off-Amazon traffic to your listings. For example, you can advertise promotions for your product on Facebook and push that traffic towards your Amazon page.” But there are other ways to advertising since the social media today has a wide number of platforms such as Facebook, Instagram, and email groups. You can have social media posts that could be a way to connect with your customers. But whenever you have other platforms for advertisement, you need to be aware of the Buy Box Percentage. If you do not own the Buy Box, when a customer clicks on the ad and is directed to Amazon, you are likely to lose the sale.
- Inventory management. All of the planning would have no use if you do not know have to do inventory. If ever you know this, you can look into ways to do automate, reduce the costs, and improve the processes you are currently doing. According to Skubana, the lesser stock you have, the larger your profits would be. By doing inventory evaluation, you can segregate the more profitable items and the non-profitable ones. Removing the non-profitable stocks from your list may be difficult but you need to do this for the growth of your company.
The product launching process can be long and complicated. Launching a product plays a huge role in the success of your Amazon selling. You do not want to be one of the many Amazon startups that fail because they do not know the basics of a product launch. Your marketing does not end here. You need to know if it has been really and effectively working and if more visits do gain and convert to more sales. It will take a bit of practice to get a sense of the rhythm of selling online, you just need to have the patience to do so.